Come on, they can't be serious. 1.2B just for access to LUL station? What are they building? Gold plated anti-gravity travelators?
It sounds to me like preparing ground for future blaming of the TfL for the HS2 overspend. It would be politically very convenient for the DfT.
That's what complex surface interacting construction costs in London.
Just look at that site, how are you even going to get plant in there?
How are you going to dispose of the spoil from such an excavation? It's not even like a conventional underground station where you can use a conveyer in the tunnel bore.
Months of utility relocations and disruption.
And that's before you consider the inevitable rebuild of the station when you treble or quadrouple the number of passengers using it.
Why do you think this passageway has never been built before now?
All conducted next to one of the busiest roads in central London.
EDIT:
Remember how Euston was way better than all the other options which were all terrible and unbuildable?